Rose Rock Midstream(R), L.P. (RRMS) announced today that the Board of Directors of its general partner has declared a cash distribution for the first quarter of 2015 of $0.635 per unit, or $2.54 per unit on an annualized basis. This distribution represents an increase of approximately 2.4% over the prior quarter’s distribution of $0.620 per unit, and an approximately 28.3% increase over the first quarter of 2014 quarterly distribution of $0.495 per unit.

The distribution will be paid on May 15, 2015 to all unitholders of record on May 5, 2015.

This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of Rose Rock Midstream, L.P.’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.

E&Ps Locking in Cash Flows and Sales Prices OPEC’s agreement to cut production levels has kicked off a rush among shale oil companies to hedge their oil price risk above $50 for 2017 and 2018. The number of E&Ps selling oil for delivery next year has pushed the WTI forward curve into slight backwardation after two years of contango. Compare[Read More…]